Re-tendering for gaming concessions set for second half of 2021
Casino licenses will expire in June 2022, but analysts predict they may well be extended due to the pandemic. Public consultation is still due to go ahead.
Public consultation on the proposed amendments of the gaming law, which will determine future concessions for gambling licenses, will go ahead in the second half of 2021, the Secretary for Economy and Finance Lei Wai Nong has announced.
“The licensing contest and public consultation are very important since they relate to the wellbeing of the local population.”
According to the report by the Lines of Government Action for 2021, the proposal to revise the gambling law should be delivered in the second quarter, with public consultation scheduled for the second half of the year, Tribuna de Macau reported.
The six gaming operators’ licenses will expire in June 2022, so a review of the current law is required before putting them out to public tender.
It has been reported that analysts at Morgan Stanley believe that the Macao government will extend the concessions for three years due to the impact of the pandemic. To date, the authorities have not indicated one way or the other.
Lei also said that it is too early to assess whether this year will end with MOP 130 billion in gross game revenue as originally forecast.
“The gaming sector’s revenues have remained stable, but we will have more time to recover,” he said, adding that the vaccination drive will boost tourist arrivals and economic recovery.
“We made an estimate, but we are still in the first quarter of the year. We will have time to see if the revenues from the gambling tax will increase”.